DIVIDEND YIE[2DS AND EXPECIED ST(KX RETURNS*
DIVIDEND YIE[2DS AND EXPECIED ST(KX RETURNS* Eugene F~ FAMA and Kenneth R. FRENCH Unioersity of Chicago, Chicago, IL 60637, USA P~ccived August 198/, final version received March 1988 The power of dividend yields to fol~.-cast s'~ck returns, … ................
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